Sichuan Guayoujiang Industrial Co., Ltd. completed the acquisition of 3.3% stake in Bank of Zigong Co.,Ltd. from Sichuan Zigong Conveying Machine Group Co., Ltd..
April 10, 2024
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Sichuan Guayoujiang Industrial Co., Ltd. agreed to acquire 3.3% stake in Bank of Zigong Co.,Ltd. from Sichuan Zigong Conveying Machine Group Co., Ltd. (SZSE:001288) for CNY 180 million on November 17, 2023. As on November 17, 2023, Sichuan Guayoujiang Industrial shareholders approved the deal. As on December 5, 2023, Bank of Zigong shareholders approved the deal. As on February 6, 2024, Sichuan Zigong Conveying Machine Group board approved the deal. The transaction is subject to Sichuan Zigong Conveying Machine shareholder approval and All other approvals as may be required by the applicable laws and regulations. As of article dated April 16, 2024 the transaction has received approval from Sichuan Zigong Conveying Machine Group's shareholders.
Sichuan Guayoujiang Industrial Co., Ltd. completed the acquisition of 3.3% stake in Bank of Zigong Co.,Ltd. from Sichuan Zigong Conveying Machine Group Co., Ltd. (SZSE:001288) on April 11, 2024. China Merchants Securities Co., Ltd. acted as Financial advisor to Sichuan Zigong Conveying Machine Group Co., Ltd. Grandall Law Firm acted as legal advisor to Sichuan Zigong Conveying Machine Group Co., Ltd. (SZSE:001288).
Sichuan Zigong Conveying Machine Group Co Ltd is a China-based company mainly engaged in material transportation. The Company's main businesses include the research and development, design, production and sales of energy-saving and environmentally-friendly conveyor machinery complete sets of equipment based on belt conveyors. The Company's main products include general-purpose belt conveyors, tubular belt conveyors, horizontal turning belt conveyors, other conveyors and related supporting equipment. The Company also produces displaceable belt conveyors, telescopic belt conveyors, large inclination belt conveyors, bucket elevators, screw conveyors, etc. The Company's products can be applied to the transportation and transshipment of mineral, construction materials, bulk materials and packaging materials. The Company mainly conducts business in the domestic market.
Sichuan Guayoujiang Industrial Co., Ltd. completed the acquisition of 3.3% stake in Bank of Zigong Co.,Ltd. from Sichuan Zigong Conveying Machine Group Co., Ltd..